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Author Topic: investment mode of btc is best or currency mode???  (Read 917 times)
aoihs00
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November 23, 2017, 04:29:20 PM
 #41

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

It is true that the principle behind the creation of bitcoin was to make it as easy currency to transfer the funds form one point to another or in simple words easiest peer to peer transaction experience. But with the time people took it completely in wind way and starts making the investment instead of transactions and thus the bitcoin got the status of greatest asset ever and it also broke all the record in very short period of time. So I'm pretty sure that now bitcoin will used as an asset only and there is no coming back from it because man just look at the number of investors here and they all just waiting for the rich status to obtain by suing bitcoin itself. :-)

I think its not our fault because bitcoin itself got so much powerful that we had no option but to adopt it in that way. But let see we still have scope of the bitcoin in future as financial institutes from real world still have nit got any interest in it but they will surely.

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November 23, 2017, 05:24:34 PM
 #42

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.
People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.

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November 23, 2017, 05:41:37 PM
 #43

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

I do not see why it needs to necessarily be a choice, bitcoin can be used for transactions and it can also be used as an asset which people hold. Of course any increase in adoption will increase price.

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November 23, 2017, 05:51:06 PM
 #44

Bitcoin is a good investment as well as the best mode of payment throughout the world, it helps to keep a bridge of payment between different countries worldwide without borders, from the bitcoin history it is clear that the early investors has helped them to be millionaires of the time. If you see as a investment it will help to attain good profits in the long run as there are high potential for bitcoin network to increase its value to more than thousand times more or two thousand times more than the current value which has surpassed $8200 as of today. Since its inception the bitcoin technology has increased the value with low dips for some time like in normal stocks and share market and huge leap where the prices shoots up to the sky. I do see this invention as a good investment and as a good digital currency which can be used worldwide.

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November 23, 2017, 06:00:07 PM
 #45

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.
People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.
In order for bitcoin to have received such quality as you say should totally change the conditions for its use. Now bitcoin is used for accumulation and indirectly supports Fiat. Because in order to make purchases, we are forced to change their coins for Fiat. All purchases we make for Fiat. This means that we will never give up Fiat.


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November 23, 2017, 06:04:00 PM
 #46

For me both are best as both helped me. They are great as an asset and a currency or transaction medium, as it provided great return as an asset/investment does and also I found it easy to transact and send money or buy something. But the usage varies from person to person, so its baseless to compare.
I have friends who uses Bitcoin only for his business transaction, he has opened a option to accept Bitcoin.

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November 23, 2017, 06:45:20 PM
 #47

With me bitcoin like a both assest and a crypto currency. So the increasing of bitcoin make me willing because i still hold it. When i need money, of course i will sell amount for take USD( My country not accept bitcoin as a payment for buying daily items). So investment mode of btc like gold, if you look like BTC as an assest.

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jagdeepjd
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November 24, 2017, 09:09:06 AM
 #48

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

Bitcoin was certainly made to be used a currency and maybe in future, it would be used as a currency. but at the moment it is mostly used for raising income or investing tool.
for bitcoin to be used as a currency we have to go a long way and solve the scalability issues which bitcoin has currently and global adoption is of course required. In the coming years when we solve this issues by bringing lightning network etc we might see bitcoin being accepted as a regular payment means.

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November 24, 2017, 09:40:41 AM
 #49

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,
As you said bitcoin is created to used as a currency but if we hold our bitcoins now the it will give huge profits in the future so no one want to spend the bitcoins now.I fyou want to spend bitcoin now you can spend it bro.
But spending bitcoin is not possible everywhre nowadays because bitcoin payment mode available only small places so it takes time to spend bitcoins as a bitcoin.

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November 24, 2017, 09:50:31 AM
 #50

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

Bitcoin was a currency also it is a cryptocurrency and yes we using for income to buy, shop, pay bills and many others that we didnt know before but as of now many country was they approve the legalization of bitcoin and they can use in many transaction and as we can see that bitcoin was continuously growing up or raising up and that is good for us to earn and have income.

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November 24, 2017, 10:01:19 AM
 #51

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.
People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.
In order for bitcoin to have received such quality as you say should totally change the conditions for its use. Now bitcoin is used for accumulation and indirectly supports Fiat. Because in order to make purchases, we are forced to change their coins for Fiat. All purchases we make for Fiat. This means that we will never give up Fiat.
The main purpose why bitcoin has been created is to be used as a currency, and because of its volatility people come up of an idea on how to grow their bitcoins, their are also lots of methods and ways to grow your bitcoin, and as you said " we are forced to changed their coins into fiats"? well its not like that, nobody is forcing you, and besides there are also lots of new investors that we do not know maybe daily, so volatility was being taken advantage in order to gain and grow your bitcoin. That's it.

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November 24, 2017, 10:26:42 AM
 #52

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

Bitcoin was certainly made to be used a currency and maybe in future, it would be used as a currency. but at the moment it is mostly used for raising income or investing tool.
for bitcoin to be used as a currency we have to go a long way and solve the scalability issues which bitcoin has currently and global adoption is of course required. In the coming years when we solve this issues by bringing lightning network etc we might see bitcoin being accepted as a regular payment means.
Maybe in future as you have said. The fact remains that using bitcoin now without still having to convert to fiat is not that easy. And what difference does it make from those who are trading on exchanges daily? Leave it or yes, there are still spenders. If the spender the OP is looking for is to be able to do daily transactions with it, then we will just have to wait until it becomes easy, but until then, I guess we have to just see it more like an asset.

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November 24, 2017, 10:33:44 AM
 #53

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.
People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.
In order for bitcoin to have received such quality as you say should totally change the conditions for its use. Now bitcoin is used for accumulation and indirectly supports Fiat. Because in order to make purchases, we are forced to change their coins for Fiat. All purchases we make for Fiat. This means that we will never give up Fiat.
The main purpose why bitcoin has been created is to be used as a currency, and because of its volatility people come up of an idea on how to grow their bitcoins, their are also lots of methods and ways to grow your bitcoin, and as you said " we are forced to changed their coins into fiats"? well its not like that, nobody is forcing you, and besides there are also lots of new investors that we do not know maybe daily, so volatility was being taken advantage in order to gain and grow your bitcoin. That's it.
I agree with you i think investment mode is the best for BTC because people are actually making a lot from it and people are becoming rich everyday currency mode is not so good in my opinion because bitcoin is not supposed to be real life money.
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November 24, 2017, 10:40:00 AM
 #54

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

it seems that investments with bitcoin methods are better than others because bitcoin is still cheap and the ups and downs in price are terrible, this could create an opportunity for investors.

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November 24, 2017, 10:56:59 AM
 #55

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

You are right when you said start using bitcoin as currency will boost user number and price automatically. But why investment mode is used by more people than currency? Because so far not many sites or especially offline place accept bitcoin as payment.

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November 24, 2017, 11:07:34 AM
 #56

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,
Become a btc holder you must fucus on its currency price that deals to make sure the wellness of your life in able to protect and make sure that your investment would be succed and progressive.

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November 24, 2017, 11:31:09 AM
 #57

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,
I do't think this is a problem. It is inevitable today many new people following then decide to buying many bitcoin for quick profit, this is not contrary to the condition of crypto as currency, because we can see many alternative coins besides bitcoin traded. This is the economic principle, when we follow the trend to get profit with less risk.

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November 24, 2017, 01:48:41 PM
 #58

Bitcoin was actually created as a currency but latter with its increasing price,people started to see it as an investment.It was getting used for both purposes.

But latter,people started using it mostly as a high return giving investment and just started buying more bitcoins.If it gets continued to used just as investment,then it would not enter in to mainstream and it would be just stored as gold.

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November 24, 2017, 02:05:53 PM
 #59

I think for bitcoin to be used as a currency by everyone as it is intended, the price needs to be stable first. Yes you can use bitcoin to buy things, but the first thing that comes to people's mind when doing this is that the amount they will spend now might double after X amount of time. Because of this, people repress on spending btc and just hold as an investment.

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November 24, 2017, 03:18:28 PM
 #60

With this ongoing trend it's not good news for the community, price going up and down just create more losers when big players decide to go out with those literally millions from fresh buyers that had no idea how this piece of technology works, the price just doesn't align at all with the true usability on bitcoin in our society, YET. I believe those parties that adopting bitcoins as major business are suffering for not having a loyal user base considering all just dive in exchanges, far too much for anyone to control with it's being decentralized and everybody just wants quick profits selling and buying off bitcoins as assets.

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